(Bloomberg) -- Tesla Inc. shares sunk in U.S. premarket trading after Chief Executive Elon Musk tweeted that the company has not yet signed a contract with car rental company Hertz Global Holdings Inc.
Replying to a tweet, Musk said a contract had not yet been signed, despite Hertz last week announcing a record order for 100,000 Model 3 sedans for $4.2 billion.
Tesla shares fell as much as 6.9% in U.S. premarket trading. The stock was down 5% at 6:12 a.m. in New York.
The Hertz order capped a run of positive news for Tesla, sending its shares up 13% on the day it was announced. That helped its market capitalization surge past the $1 trillion mark and solidified its position as the fifth-largest publicly traded company in the U.S.
